An issue of FirstEnergy Corp. (NYSE:FE) bonds fell 2.6% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 6.05% coupon and is set to mature on August 15, 2021. The bonds in the issue are now trading at $47.98. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

FE has been the topic of a number of research reports. Citigroup Inc. boosted their target price on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. lowered shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $36.00 to $31.00 in a research note on Tuesday, July 26th. Morgan Stanley raised shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $41.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $41.00 to $40.00 in a research note on Monday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $36.00 price objective on shares of FirstEnergy Corp. in a research note on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $36.07.

Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.85 on Friday. The stock’s market cap is $13.54 billion. The stock has a 50 day moving average of $33.01 and a 200 day moving average of $33.54. FirstEnergy Corp. has a one year low of $29.62 and a one year high of $36.60.

FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings results on Friday, November 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.14. FirstEnergy Corp. had a negative net margin of 4.12% and a positive return on equity of 10.06%. During the same period in the previous year, the company earned $0.98 EPS. On average, analysts forecast that FirstEnergy Corp. will post $2.59 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is currently -100.70%.

Several hedge funds have recently made changes to their positions in FE. Canada Pension Plan Investment Board boosted its stake in shares of FirstEnergy Corp. by 158.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,016,398 shares of the company’s stock worth $35,482,000 after buying an additional 623,303 shares during the period. RDL Financial Inc. purchased a new position in shares of FirstEnergy Corp. during the second quarter worth about $480,000. Acadian Asset Management LLC boosted its position in shares of FirstEnergy Corp. by 324.8% in the second quarter. Acadian Asset Management LLC now owns 28,054 shares of the company’s stock worth $980,000 after buying an additional 21,450 shares during the last quarter. National Pension Service boosted its position in shares of FirstEnergy Corp. by 4.6% in the first quarter. National Pension Service now owns 264,147 shares of the company’s stock worth $9,501,000 after buying an additional 11,669 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in shares of FirstEnergy Corp. by 4.1% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 686,394 shares of the company’s stock worth $23,962,000 after buying an additional 27,129 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.

FirstEnergy Corp. Company Profile

FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.

5 Day Chart for NYSE:FE

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